A widely respected cryptocurrency trader says one decentralized oracle service project could one day overtake rival Chainlink (LINK).
In a new video update, CoinBureau host Guy Turner told his 2.57 million YouTube subscribers that the market capitalization of Pyth Network (PYTH) could eventually soar due to its potential to generate massive fee income.
“In my opinion, Pyth Network is one of the most underrated cryptocurrencies. This is because it is the oracle that provides the high-frequency data feeds that blockchains like Solana rely on. In other words, Pyth Network is similar to Chainlink, and some would argue that it is better than Chainlink.
This is because the Pyth Network technically has its own blockchain called Pyth Net, so in theory it could one day leverage PYTH tokens for fees.
This can cause PYTH to become larger than LINK, which is already quite large. But for now, PYTH continues to fly under the radar. “This is good news for those looking to get in early, but bad news for those who have already been accumulating for a while.”
PYTH is trading at $0.49 at the time of this writing, up 7% in the last 24 hours. With a market capitalization of $1.79 billion, PYTH is the 83rd largest cryptocurrency project.
Meanwhile, LINK is trading at $29.08 at the time of this writing, up slightly on the day. With a market capitalization of $18.21 billion, LINK is the 13th largest cryptocurrency project.
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